Travere Therapeutics, Inc. $TVTX Stock Holdings Boosted by Sei Investments Co.

Sei Investments Co. grew its position in shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) by 24.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 166,477 shares of the company’s stock after purchasing an additional 32,882 shares during the quarter. Sei Investments Co.’s holdings in Travere Therapeutics were worth $4,946,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Travere Therapeutics by 47.8% in the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after acquiring an additional 1,538,827 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after acquiring an additional 483,565 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Travere Therapeutics by 28.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock valued at $85,849,000 after purchasing an additional 494,665 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its stake in shares of Travere Therapeutics by 2.1% in the 4th quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after purchasing an additional 45,549 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings downgraded shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Guggenheim lifted their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price target on the stock in a research report on Tuesday, April 14th. Wedbush upped their price target on Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $55.92.

Insider Activity at Travere Therapeutics

In related news, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director owned 56,250 shares in the company, valued at approximately $2,816,437.50. This represents a 15.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the director directly owned 41,500 shares of the company’s stock, valued at $2,075,000. This represents a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by corporate insiders.

Travere Therapeutics Price Performance

TVTX stock opened at $62.76 on Thursday. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. Travere Therapeutics, Inc. has a one year low of $15.60 and a one year high of $66.24. The firm has a market capitalization of $5.84 billion, a PE ratio of -136.43 and a beta of 1.12. The firm has a 50-day moving average of $54.30 and a two-hundred day moving average of $40.89.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to analysts’ expectations of $136.23 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 44.89%. The business’s revenue for the quarter was up 55.6% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. On average, analysts forecast that Travere Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Key Travere Therapeutics News

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Travere said the launch of FILSPARI for focal segmental glomerulosclerosis (FSGS) is exceeding expectations. Management indicated the drug could generate more than $3 billion in peak annual sales, materially expanding the company’s long-term revenue opportunity. Travere signals potential for more than $3B in peak annual FILSPARI sales as FSGS launch exceeds expectations
• Positive Sentiment: Second-quarter revenue was reported at approximately $169.6 million, above the roughly $157.3 million analyst estimate and up 48.2% year over year. The revenue performance supports the view that FILSPARI is gaining commercial traction. Travere Therapeutics quarterly earnings results
• Positive Sentiment: TD Cowen raised its price target on TVTX from $60 to $75 and maintained a “buy” rating, implying further upside based on the company’s growth outlook. TD Cowen raises Travere Therapeutics price target
• Neutral Sentiment: Travere will participate in upcoming Canaccord Genuity, Wells Fargo, Citi and Cantor healthcare investor conferences. These events may provide additional details on FILSPARI demand, guidance and the company’s strategy, but do not themselves change current fundamentals. Travere Therapeutics to Participate at Upcoming Investor Conferences
• Negative Sentiment: Profitability remains a risk. Coverage of the quarter showed a larger-than-expected loss in at least one report, while other reports cited a smaller loss that beat estimates. Regardless of the discrepancy, TVTX remains unprofitable, making continued FILSPARI growth and operating leverage important to the valuation. Travere Therapeutics reports second-quarter results

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.